401k catch up at 49 1/2
client is 48 this year but will be 49 and 49 1/2 next year in 2017.
In 2017 is he allowed to catch up the 6k to his 401k after he turns 49 1/2?
or
Does he have to wait until 2018 when he turns 50?
Thank you,
Dougals
client is 48 this year but will be 49 and 49 1/2 next year in 2017.
In 2017 is he allowed to catch up the 6k to his 401k after he turns 49 1/2?
or
Does he have to wait until 2018 when he turns 50?
Thank you,
Dougals
Permalink Submitted by Alan - IRA critic on Thu, 2016-01-28 21:24
He has to wait until the calendar year of his 50th birthday (2018).